ZIMNAT in slow start in 2017

ZIMNAT in slow start in 2017

HARARE, Zimbabwe’s insurance group, Zimnat is among the Sanlam’s’ group operations in Africa who had slow starts to the year hence failing to make contribution towards growth during the four months to April 2017.

Sanlam, a South African financial and insurance group acquired a 40% shareholding in Zimnat in a deal worth $11,5 million. The balance of shareholding

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First Mutual Holdings Limited eyes controlling stake in Nicoz Diamond Insurance

First Mutual Holdings Limited eyes controlling stake in Nicoz Diamond Insurance

HARARE, First Mutual Holdings Limited is contemplating the acquisition of a controlling stake in a company in the insurance sector, according to a cautionary statement published this morning.

On other hand, Nicoz Diamond Insurance Limited also published a cautionary advising that its major shareholder the National Social

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Investment income lifts First Mutual Holdings in five months to May 2017

Investment income lifts First Mutual Holdings in five months to May 2017

 HARARE, Total Investment Income lifted First Mutual Holdings profitability in the five months to May 2017. After tax profit for the period increased to 44% to $4.35 million compared to $3.02 million in prior year same period.

In a trading update at the Group’s annual general meeting chief executive officer Doug Hoto said

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Old Mutual Custodial Services re-named CABS Custodial Services

Old Mutual Custodial Services re-named CABS Custodial Services

HARARE, Diversified financial services and Insurance giant Old Mutual Zimbabwe has rebranded its Custodial Services unit to Cabs Custodial Services as part of meeting international best practice which encourages custodians to operate within a banking institution.

CABS is a member of the Old Mutual Group and have an established strong brand

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African Actuarial Consultants (“AAC”) partners South African firm

HARARE, The African Actuarial Consultants (“AAC”) has partnered Alexander Forbes Group Holdings Ltd (AFH) of South Africa in a transaction aimed at strengthening AAC’s business to grow its client base not only in Zimbabwe but in the region as well.

AAC, which started operating in 1993, offers end-to-end actuarial and advisory services to leading insurers, reinsurers and large pension schemes

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NICOZ Diamond revenue in marginal growth in Q1 2017

HARARE, Insurance Company, Nicoz Diamond says the insurance sector continues to face a protracted soft market cycle that has seen clients continuing to negotiate for reduced covers and lower premium rates.

As a result, the Group’s revenue for the four months to April 2017 grew a marginal 1% with Gross Premium Written (GWP) for the period at $15.7mln compared to $15.6mln same period in 2016.

Group

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